Zacks Investment Research Lowers Bank of Hawaii (BOH) to Sell

Zacks Investment Research downgraded shares of Bank of Hawaii (NYSE:BOH) from a hold rating to a sell rating in a report released on Monday.

According to Zacks, “Bank of Hawaii Corporation is a regional financial services company serving businesses, consumers and governments in Hawaii, American Samoa and the West Pacific. The Company’s principal subsidiary, Bank of Hawaii, was founded in 1897 and is the largest independent financial institution in Hawaii. “

Separately, Keefe, Bruyette & Woods reissued a hold rating on shares of Bank of Hawaii in a research note on Tuesday, February 27th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Bank of Hawaii presently has a consensus rating of Hold and a consensus target price of $90.92.

NYSE BOH opened at $84.85 on Monday. Bank of Hawaii has a one year low of $74.72 and a one year high of $89.09. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $3.60 billion, a P/E ratio of 19.24, a PEG ratio of 1.91 and a beta of 0.80.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings data on Monday, April 23rd. The bank reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.05. Bank of Hawaii had a return on equity of 15.56% and a net margin of 27.19%. The firm had revenue of $162.99 million during the quarter, compared to the consensus estimate of $160.91 million. During the same period in the prior year, the company earned $1.20 EPS. sell-side analysts forecast that Bank of Hawaii will post 5.26 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 14th. Shareholders of record on Thursday, May 31st were issued a $0.60 dividend. This is a boost from Bank of Hawaii’s previous quarterly dividend of $0.52. This represents a $2.40 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Wednesday, May 30th. Bank of Hawaii’s dividend payout ratio is presently 54.42%.

A number of large investors have recently modified their holdings of the business. Principal Financial Group Inc. grew its holdings in Bank of Hawaii by 4.9% in the 1st quarter. Principal Financial Group Inc. now owns 205,867 shares of the bank’s stock valued at $17,107,000 after buying an additional 9,699 shares in the last quarter. Xact Kapitalforvaltning AB grew its holdings in Bank of Hawaii by 37.2% in the 1st quarter. Xact Kapitalforvaltning AB now owns 5,537 shares of the bank’s stock valued at $460,000 after buying an additional 1,500 shares in the last quarter. Royal Bank of Canada grew its holdings in Bank of Hawaii by 20.7% in the 1st quarter. Royal Bank of Canada now owns 29,077 shares of the bank’s stock valued at $2,418,000 after buying an additional 4,994 shares in the last quarter. Legal & General Group Plc grew its holdings in Bank of Hawaii by 4.3% in the 1st quarter. Legal & General Group Plc now owns 58,431 shares of the bank’s stock valued at $4,855,000 after buying an additional 2,386 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Bank of Hawaii by 157.9% in the 1st quarter. Millennium Management LLC now owns 36,756 shares of the bank’s stock valued at $3,054,000 after buying an additional 22,505 shares in the last quarter. Institutional investors own 74.39% of the company’s stock.

Bank of Hawaii Company Profile

Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides financial products and services in Hawaii, Guam, and other Pacific Islands. It operates through four segments: Retail Banking, Commercial Banking, Investment Services and Private Banking, and Treasury and Other.

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